Ethereum IPO reboot coming, time to get nervous about the future of crypto

[Queeq]

Interesting to see the distribution of future Ethereums:
https://blockchain.info/taint/36PrZ1KHYMpqSyAQXSG8VwbUiq2EogxLo2

[EvilDave]

Hate to hijack this thread......but NXT.
Not sponsored by corporate thieves or incompetents, fully open source, up and running right now, capable of implementing pretty much anything Ethereum will be able to do.

Why throw your money at Goldman Sachs for vaporware and a promise when you could get in on a working system right now?

Sheesh, NXT has already placed 2 NXT based assets in the Coinmarketcap top 40 right now......and theres a lot more amazing stuff to come.

[mtomcdev]

Hate to hijack this thread......but NXT.
Not sponsored by corporate thieves or incompetents, fully open source, up and running right now, capable of implementing pretty much anything Ethereum will be able to do.

Why throw your money at Goldman Sachs for vaporware and a promise when you could get in on a working system right now?

Sheesh, NXT has already placed 2 NXT based assets in the Coinmarketcap top 40 right now......and theres a lot more amazing stuff to come.

Is NXT support and capable to perform smart contracts?

[EvilDave]

Nope, not yet, but smart contracts are in the pipeline.......probably be up and running on NXT before Ethereum launches.
https://nxtforum.org/smart-contracts/

And while you're there, take a look at the rest of NXTs feature set.....

IMHO: if (big if) Ethereum can deliver on everything they promise, Eth will be technically superior to NXT.
But we are a very long way from seeing any code from Ethereum, even if they can deliver.
I think this is going to work out like VHS vs Betamax: the superior tech will lose out to ease of use, market position, availability and lower entry costs......

[mtomcdev]

Nope, not yet, but smart contracts are in the pipeline.......probably be up and running on NXT before Ethereum launches.
https://nxtforum.org/smart-contracts/

And while you're there, take a look at the rest of NXTs feature set.....

IMHO: if (big if) Ethereum can deliver on everything they promise, Eth will be technically superior to NXT.
But we are a very long way from seeing any code from Ethereum, even if they can deliver.
I think this is going to work out like VHS vs Betamax: the superior tech will lose out to ease of use, market position, availability and lower entry costs......

Well, that's not quit the case as there are lot of codes available from Ethereum at their github repository, I have just compiled their cpp-ethereum project which is a quite impressive piece of proof of concept software. Having said that Ethereum is not as innovative as I thought it will be. Even Buterin says or admit that Ethereum like Bitcoin with a built in scripting language. Knowing that Bitcoin can execute scripts the innovation is not a massive breakthrough.

I think you are absolutely right, we don't know whether the completed Ethereum solution will work and when that will be. NXT is definitely have a better position in the race. NXT is at least on the market with a proven and stable software.

[bitjoint]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

[Nxtblg]

Nope, not yet, but smart contracts are in the pipeline.......probably be up and running on NXT before Ethereum launches.
https://nxtforum.org/smart-contracts/

And while you're there, take a look at the rest of NXTs feature set.....

IMHO: if (big if) Ethereum can deliver on everything they promise, Eth will be technically superior to NXT.
But we are a very long way from seeing any code from Ethereum, even if they can deliver.
I think this is going to work out like VHS vs Betamax: the superior tech will lose out to ease of use, market position, availability and lower entry costs......

I agree, although of course you already know that I pretty much have to. As a co-dev of NFD, I'm pretty much in the tank for the Nxt tech - as you well know, Mr. EvilCoin. 

But I am on solid ground here. I was excited by Etherium when they first announced it. But as winter melted into spring, I got the idea that they were bogged down into committee-speed slogging. That only further increased my confidence in Nxt and the Nxt system.

With its new schedule, Etherium is running the risk of becoming a much-better-publicized version of (trivia alert) eMunie. By the time Etherium gets off the ground, it'll have not only one competitive tech but two: the Nxt system and the NEM system.

For all I know, it might have at least three competitive techs. We might end up seeing eMunie after all, and one of those snazzy IPOs might bear competitive fruit by the opening winter of 2015.

So that's why I'm in the tank for the Nxt system - specifically, for NFD. To be honest, as a dev I actually have a moral obligation to be biased in NFD's favour.   

[EvilDave]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

[Richy_T]

So now that I know what you were referring to, I say you are wrong. Every contract on the Ethereum blockchain (or bitcoin blockchain) can be enforced by the blockchain itself. If you have read that page, I struggle to see how you can't grasp that. Men with guns aren't required. There is no ambiguity in blockchain contracts.

No, I grasp the concept. What is covered with these "contracts" however, is a small subset of useful contract types. It's a good concept as far as it goes but I smell hype.

[Richy_T]

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

Terrible example, even for what you are trying to illustrate.

I'm not going to crap all over Etherium as I think it sound like it could have some quite interesting applications. I just think some of its shortcomings are being quietly ignored.

[marcelus]

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

Terrible example, even for what you are trying to illustrate.

I'm not going to crap all over Etherium as I think it sound like it could have some quite interesting applications. I just think some of its shortcomings are being quietly ignored.

"Could have some interesting applications". That's the equivalent of saying the www could have some interesting applications back in 1993.

What's wrong with that example as well? It makes perfect sense.

[marcelus]

So now that I know what you were referring to, I say you are wrong. Every contract on the Ethereum blockchain (or bitcoin blockchain) can be enforced by the blockchain itself. If you have read that page, I struggle to see how you can't grasp that. Men with guns aren't required. There is no ambiguity in blockchain contracts.

No, I grasp the concept. What is covered with these "contracts" however, is a small subset of useful contract types. It's a good concept as far as it goes but I smell hype.

Small subset? Any type of financial or reputational contract can be governed by it. Any type of decentralised version of any web application that now exists can be run on it without a middleman enforcing the contract. The set of contracts is endless! 

[TaunSew]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

My favourite part in this post.

[Anotheranonlol]

I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

Counterparty does this already right now

[marcelus]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Great analogy

[ShroomsKit_Disgrace]

I have to say, I think the Blockchain is great and all and it's no doubt fantastic for recording Bticoin transaction and potentially for indelibly recording other things as well but I think some of the claims and aspirations seem to be overblown and heading into hyperbole. "Unbreakable contracts"? "enforced by the blockchain"? Sorry, no. Once you step out into the real world, any contract can be broken simply by walking away and enforcement is done by men with guns. Possibly this is just not communicating the message properly but I suspect there's not a small amount of disingenuity in there also.

I don't think you fully understand how this will work! I'll make it very simple!
i'll write a contract with you, a bet lets say, that the seahawks will win the superbowl again!
If you participate in this contract, then you will send .5 BTC or 1000 Ethers or 200000000000 derp coins to the blockchain and so will I. The program/code will figure out who won by communicating to the internet, and BAM! the winner will will receive those coins to their address! simple as that! see how that works? no guns, no men, no bukkake!

keep calling it a "alt-coin"
lol

Counterparty does this already right now

Let me doubt abuot your statement, sir

[joe 90]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

[Richy_T]

Small subset? Any type of financial or reputational contract can be governed by it. Any type of decentralised version of any web application that now exists can be run on it without a middleman enforcing the contract. The set of contracts is endless!  

Maybe you need to study set theory. Integers are also endless but do not cover all use cases for numbers.

How do you cover a contract for product delivery in the future for a payment up-front? How do you cover an employment contract where payments are ongoing? It seems that the contracts that can be covered with Etherium are time-order sensitive. Which is fine but like I say, hype. And you guys failure to qualify your statements and/or hedge only adds to that perception.

And your example is poor more for its category (gambling) which is probably not what anyone seriously needing to be concerned about contracts will be concerned about. Talk to me of building roads or inventory fulfillment, not the 3:30 at Epsom.

[Queeq]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

9,471.85518446 BTC at the moment.

[Nullu]

Comparing Ethereum with NXT is like comparing a nice car (NXT) with its production and assembly line (Ethereum).

Nope, there's nothing that Eth is slated to do that can't be implemented in the NXT eco-system.
When NXT releases Monetary System, NXT becomes the factory......a better comparison would be that NXT is Lego and Eth is a 3d printer.

https://www.ethereum.org/
https://nxtforum.org/index.php
I've just spent a few minutes checking out Ethereums site.....apart from the money slurping machine at the front door, it reads like an extract from NXTs technical discussion section.

How much money has it slurped now?

9,471.85518446 BTC at the moment.

Which makes the company currently worth $5,544,000 USD.

Ridiculous.